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Indiana Code — Title 6 (Taxation)

IC 6-4.1-6-1

Mortality standards and actuarial tables; valuation of future

Official textiga.in.govlast amended

interests
Sec. 1. (a) For purposes of this article, the department of state revenue shall, if possible, appraise each future, contingent, defeasible, or life interest in property and each annuity by using the rules, methods, standards of mortality, and actuarial tables used by the Internal Revenue Service on October 1, 1988, for federal estate tax purposes.

(b) Except as otherwise provided in this chapter, the value of a future interest in specific property equals the remainder of:

# (1)

the total value of the property; minus

# (2)

the value of all other interests in the property.

(c) Unless otherwise provided by the transferor, the inheritance tax imposed on the transfer of each of the interests is payable from the property in which the interests exist.
As added by Acts 1976, P.L.18, SEC.1. Amended by P.L.95-1989, SEC.1; P.L.190-2016,
SEC.15.

Amendment history

As added by Acts 1976, P.L.18, SEC.1. Amended by P.L.95-1989, SEC.1; P.L.190-2016, SEC.15.

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Nearby sections (25 sections)
  1. 6-4.1-5-7 · Petition for order of no inheritance tax due
  2. 6-4.1-5-8 · Hearing upon petition for order of no inheritance tax due;
  3. 6-4.1-5-9 · Repealed
  4. 6-4.1-5-10 · Orders of inheritance tax and witness fees due; form
  5. 6-4.1-5-11 · Determination of inheritance tax due; mailing of copies to
  6. 6-4.1-5-12 · Repealed
  7. 6-4.1-5-13 · Appointment of temporary guardian
  8. 6-4.1-5-14 · Appraisal and determination of tax due on nonresident
  9. 6-4.1-5-15 · Orders with respect to nonresident decedent's estate;…
  10. 6-4.1-5-16 · Notice of taxes due upon nonresident decedent's estate
  11. 6-4.1-5-17 · Transfers by will; property not specifically bequeathed or
  12. 6-4.1-6-0.5 · Applicability
  13. 6-4.1-6-1 · Mortality standards and actuarial tables; valuation of…
  14. 6-4.1-6-2 · Property interests that may be divested
  15. 6-4.1-6-3 · Agreements with department for computing taxes
  16. 6-4.1-6-4 · Determinations of the manner in which property probably will
  17. 6-4.1-6-5 · Appraisal of limited, contingent, dependent, or determinable
  18. 6-4.1-6-6 · Contingent or defeasible future interests; appraisal
  19. 6-4.1-7-0.1 · Repealed
  20. 6-4.1-7-0.5 · Applicability
  21. 6-4.1-7-1 · Rehearing
  22. 6-4.1-7-2 · Reappraisal; petition; time of filing
  23. 6-4.1-7-3 · Appointment of reappraiser; powers; compensation
  24. 6-4.1-7-4 · Report or reappraisal; redetermination of taxes; filing of
  25. 6-4.1-7-5 · Non-resident decedent's property; appeal of department
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